Retirement plan

MORRELL TIRE SERVICE, INC. 401(K) PROFIT SHARING PLAN

Name: MORRELL TIRE SERVICE, INC. - MORRELL TIRE SERVICE, INC. 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: MORRELL TIRE SERVICE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MORRELL TIRE SERVICE, INC. 401(K) PROFIT SHARING PLAN, MORRELL TIRE SERVICE, INC.

MORRELL TIRE SERVICE, INC.EIN 57-0570397Plan #001PY 2023

304 SOUTH RICHARDSON STREET - LATTA, SC 29565843-752-7511morrelltireservice.comLinkedIn1-10 employeesmedical devices

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$735K

+17.7% from 2022

Total participants

0.0% from 2022

Average account balance

$61,274

+17.7% from 2022

Annual return

16.18%

+33.56 pp from 2022

Benchmarks

See 22,148 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants<25

Cohort22,148 peers

Snapshot2023

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$877K

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$73K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

85.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$55K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+13.21%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$796

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

0 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2J2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$44K

$3419 / participant

Other / not subdivided$44K100.0%

% of EOY assets

6.045%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$61,274

$102,696-40.3%

$86,235-28.9%

$139,487-56.1%

Participation rate

84.6%

74.5%+10.1pp

69.0%+15.7pp

80.3%+4.3pp

Annual return

16.18%

1925.91%-1909.7pp

1170.03%-1153.9pp

373.84%-357.7pp

Employer contribution / active EE

$1,626

$3,034-46.4%

$2,381-31.7%

$4,755-65.8%

Participant deferral / active EE

$2,521

$4,679-46.1%

$3,987-36.8%

$6,713-62.4%

Admin fee / account holder

$3,704

$8,667-57.3%

$6,856-46.0%

$11,407-67.5%

MORRELL TIRE SERVICE, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MORRELL TIRE SERVICE, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion